Financial Scams Video :: Laugh at Bankers and Investors :: Financial Scams

Youtube Video – Laugh at Bankers and Investors When your finances seem to be closing in and weighing heavily on your mind sometimes you need to take a break. Here is a funny video that will make you laugh. It makes fun of bankers and investors who fell flat on their faces during the recent …

How Saxon Mortgage kept HAMP funds

HAMP was started in February 2009 by the Treasury Department and the Federal Housing Finance Agency after the foreclosure crisis. Under the plan, at least $75 billion was directed to participating mortgage-servicing companies to help financially distressed mortgage-holders modify their mortgages. Reuters reported that Saxon received a $634 million commitment of HAMP funds, of which …

BofA proposed $8.5 billion settlement

Opposition to Bank of America’s proposed $8.5 billion settlement with Countrywide mortgage-backed securities investors consisted of a handful of investor groups represented by a handful of law firms. Even if you counted the six Federal Home Loan Banks that have moved to intervene but haven’t yet gone on record opposing the deal, intervenors represented less …

More of America sold to China as distressed assets

China Investment Corp, a $200 billion sovereign fund, is set to spend $2 billion buying U.S. distressed assets from property to infrastructure via three funds, including one managed by Goldman Sachs, sources briefed on the plan said on Tuesday. CIC’s latest swoop on U.S. assets comes after the state-owned investment vehicle lined up to invest …

The slowdown in commercial loans

Barclays’ estimates show that in 2009, nearly $270 billion of mortgages on apartment complexes, shopping malls, and office buildings would require refinancing. In its November 17 report, Fitch Ratings said that there is every reason for commercial loan defaults to accelerate because banks and insurance companies would try to manage their balance sheets by restricting …